Key data from the pricing sessions in Asia, Europe and the United States for the week ending Friday April 3.China The buy-side of the seaborne market significantly drove up prices after the lockdown in South Africa sparked supply fears and portside price rises. Portside ore prices continued to rise after traders increased offer prices, however, buying interest waned in...Read More
Waning demand for lithium cobalt oxide (LCO) batteries - as a result of slowing consumption of consumer electronic products amid the Covid-19 pandemic - has weighed on upstream cobalt tetroxide prices since early March, sources said.Fastmarkets' assessment for cobalt tetroxide 72.6% Co min, delivered China dropped to 170,000-180,000 yuan ($23,970-25,380) per tonne on Friday April 3, down 2% from 1...Read More
An overview of the Chinese minor metals markets and the reasons for their latest price moves. Read More
A summary of miner-producer China Molybdenum Co's (CMOC) annual report filed on Shanghai Stock Exchange on March 30. In brief Revenue for mining and processing section totaled 19.2 billion yuan ($2.7 billion) in 2019, down 24.65% year on year. The weak performance of the mining sector was mainly attributed to...Read More
Eurofer has requested an immediate reduction of 75% in EU safeguard quotas for imported steel to to support European industry during the crisis caused by the Covid-19 pandemic."Reflecting the unprecedented implosion of the European steel market, the current quota levels need to be drastically reduced immediately for a period of six months, and by about 75% to align them with the devastating situat...Read More
Key data from Fastmarkets' pricing sessions in Europe, Shanghai and the United States in the week to Friday April 3. United States The US ferro-silicon market continued to surge, supported by a limited availability of inventory for the spot...Read More
European steelmakers have been reducing output and temporarily idling equipment due to the poor demand caused by lockdowns and quarantine measures implemented across Europe intended to prevent the spread of Covid-19.Of particular importance has been the closure of a large number of automotive manufacturers. Carmakers in Europe and the UK have extended their previously announced production suspensi...Read More
Increased exports of aluminium scrap from the United States pushed total monthly nonferrous scrap exports higher in February 2020.Aluminium products were the only nonferrous metallic grade to exhibit growth in January-February, while nickel volumes, which fell by 20.6% to 2,751 tons, experienced the greatest drop.US nonferrous scrap exports totaled 237,724 tons in February, up 1.6% from 233,8...Read More
Demand for ferrous scrap in key import markets Taiwan and Vietnam was weaker this week due to major holidays in these regions, while social distancing measures implemented in Vietnam also resulted in less downstream activity.More clarity is expected next week when both importers return fully to the market. Participants are also watching for new price trends in key market Turkey.VietnamFastmarkets'...Read More
Here are five Fastmarkets stories you might have missed on Thursday April 2 that are worth another look.Tata Steel has reduced output at its steel production sites in India and Europe due to decreased demand, and to obey the temporary regulations imposed to tackle the spread of the Covid-19 pandemic, the company said on Wednesday April 1.Norsk Hydro has decided to postpone adding 95,000 tonnes per...Read More
Rio Tinto has declared force majeure on shipments of copper cathode from its Kennecott copper mine in the US state of Utah following a 5.7-magnitude earthquake near the site last month.All operations at the site were temporarily halted after the quake, with staff evacuated while an assessment was made. The mine, concentrator and tailings have since resumed operations, but the company has been work...Read More
Norsk Hydro has decided to postpone adding 95,000 tonnes per year to capacity at the Husnes aluminium plant in Norway in light of the rapidly deteriorating market conditions caused by the Covid-19 pandemic. The ramp-up of Husnes was originally planned to begin in the first half of 2020, but has now been postponed to the third quarter at the earliest. This is also dependent on market developme...Read More
Here are five Fastmarkets stories you might have missed on Thursday April 2 that are worth another look.Tata Steel has reduced output at its steel production sites in India and Europe due to decreased demand, and to obey the temporary regulations imposed to tackle the spread of the Covid-19 pandemic, the company said on Wednesday April 1.Norsk Hydro has decided to postpone adding 95,000 tonnes per...Read More
Key pricing data from the pricing session for Fastmarkets' alumina index, fob Australia, on Thursday April 2.Key drivers Fastmarkets' daily alumina index, fob Australia, was calculated at $237 per tonne on Thursday, down from $241.52 per tonne the day before and down by more than 11% from $268.33 per tonne on Thursday last week. The index is now at its lowest since September 26, 2016, when...Read More
Rio Tinto has declared force majeure on shipments of copper cathode from its Kennecott copper mine in the US state of Utah following a 5.7-magnitude earthquake near the site last month.All operations at the site were temporarily halted after the quake, with staff evacuated while an assessment was made. The mine, concentrator and tailings have since resumed operations, but the company has been work...Read More
Here are five Fastmarkets stories you might have missed on Thursday April 2 that are worth another look.Tata Steel has reduced output at its steel production sites in India and Europe due to decreased demand, and to obey the temporary regulations imposed to tackle the spread of the Covid-19 pandemic, the company said on Wednesday April 1.Norsk Hydro has decided to postpone adding 95,000 tonnes per...Read More
Cobalt trade log including business, bids and offers reported to Fastmarkets. Unless otherwise stated, all prices are per lb on an in-warehouse (in-whs) basis. Delivered prices are netted back. Fastmarkets prices Click here for Fastmarkets' price assessment for standard-grade cobalt, in-whs Rotterdam, $/lb. Click here for Fastmarkets' price assessment for alloy-grade cobalt, in-whs Rotterdam, $/lb...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.A 6% decline in the daily average 62% Fe iron ore fines benchmark last week contributed to the lowest quarterly price rise for the first quarter in five years, in spite of clear evidence of supply-side constraints. Although there were clear demand-related obstacles to iron ore suppliers raking in more typical, seasonal price...Read More
Norsk Hydro has decided to postpone adding 95,000 tonnes per year to capacity at the Husnes aluminium plant in Norway in light of the rapidly deteriorating market conditions caused by the Covid-19 pandemic. The ramp-up of Husnes was originally planned to begin in the first half of 2020, but has now been postponed to the third quarter at the earliest. This is also dependent on market developme...Read More
The Turkish steel producers have continued to stay away from the deep-sea scrap market, while suppliers were raising their offer prices because of tightening supplies, sources said on Thursday April 2.The most recent deep-sea deals had put prices at $206-207 per tonne cfr for HMS 1&2 (80:20) and mills' expectations since then have been around $200-205 per tonne for similar material.But suppliers w...Read More